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Financial News: Riksbank Warns Financial Stability Risks To Rise If

Riksbank Warns Financial Stability Risks To Rise If Covid19 Crisis Prolongs

05/20/2020 - 06:22:00 (RTTNews)

(RTTNews) - Sweden's central bank cautioned on Wednesday that risks to financial stability will increase in the economic crisis caused by the coronavirus, or Covid-19, pandemic becomes prolonged. The Swedish financial system is functioning satisfactorily for the time being, the central bank said in its latest Financial Stability Report, released on Wednesday. However, if the crisis caused by Covid-19 lasts longer, credit losses would increase and further economic policy measures would be required to reduce the pressure on banks trying to maintain credit supply, the bank said.

The Riksbank said it is difficult to say to what extent the measures already taken by the government and the central bank will be sufficient to mitigate the real economic effects.

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